Industrial Park approval under section 80IA: tax benefits conditional on compliance, minimum units and infrastructure requirements. The Central Government notifies M/s Akruti Nirman Limited's undertaking at M.I.D.C., Marol, Andheri (East), Mumbai, as an industrial park under clause (iii) of sub section (4) of the Income tax Act, subject to annexed terms: specified location, area, NIC coded activities, allocable industrial and commercial area percentages, minimum number of units, and investment figures. Approval is conditional on minimum infrastructure expenditure thresholds (50% generally; 60% when built up industrial space is provided), prescribed infrastructure components, a cap on single unit area occupancy, requisite statutory approvals, operation by the developer while benefits are availed, notification on transfer, and Government power to withdraw approval for non compliance or nondisclosure.
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Industrial Park approval under section 80IA: tax benefits conditional on compliance, minimum units and infrastructure requirements.
The Central Government notifies M/s Akruti Nirman Limited's undertaking at M.I.D.C., Marol, Andheri (East), Mumbai, as an industrial park under clause (iii) of sub section (4) of the Income tax Act, subject to annexed terms: specified location, area, NIC coded activities, allocable industrial and commercial area percentages, minimum number of units, and investment figures. Approval is conditional on minimum infrastructure expenditure thresholds (50% generally; 60% when built up industrial space is provided), prescribed infrastructure components, a cap on single unit area occupancy, requisite statutory approvals, operation by the developer while benefits are availed, notification on transfer, and Government power to withdraw approval for non compliance or nondisclosure.
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